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tv   CNBC Reports  CNBC  November 6, 2012 8:00pm-9:00pm EST

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good evening. welcome back to cnbc's election night coverage of "your money, your vote." several races to call as polls are closing at a number of states on the east coast. the state of alabama is called for mitt romney. a state that mccain won in 2008 by a wide margin. the state of connecticut is called for obama. an important state there with a high profile senate race between linda mccann and representative chris murphy and the district of columbia just three electoral votes is called for president obama. >> we're waiting on florida right now florida is still too close to call. this of course is one of the t hotly contested states. florida too close to call. the polls are closed in florida.
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onto illinois where obama has taken illinois. as you can see there illinois is going to the president. maine also going to the president tonight. nbc news projecting president obama is the winner of maine. onto maryland where we are also seeing president obama take maryland. and that of course ten electoral votes. >> interesting. the state of massachusetts governor romney's home of course as governor at least being called for barack obama. also home to a very high profile senate race between senator scott brown and elizabeth warren of harvard. the woman who set up consumer protection bureau. mississippi is called for mitt romney. six electoral votes there and the state of missouri too early to call. >> new hampshire, we have been waiting on another hotly contested state. too close to call in new hampshire so far. this is four electoral votes and one of the hotly contested
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states new hampshire too close to call. new jersey, too early to call at this point. 14 electoral votes. this is an important one. too early to call in new jersey. and oklahoma is going to governor romney. governor romney winning oklahoma with seven electoral votes. >> the state of pennsylvania, a critical swing state. obama won it in 2008. 54-44. romney made a late-stage push. it's too early to call in pennsylvania but nbc news is saying that obama has the lead in pennsylvania. the state of rhode island is being called for barack obama. and in tennessee, another high profile senate race between bob corker and mark clafen. tennessee is called for mitt romney. >> a lot of states closed in just the few minutes. this is a busy moment. let's get to john harwood for reaction on the closings. >> we're seeing the coloring in of the map in the northeast and the south for mitt romney and
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barack obama with states that we knew that they were going to take. this is what we talked about at 6:30. the way you fill in those states with the base for both parties. the two that ever really giants that are really, really important to the outcome, we're talking about florida. too close to call. that's 29 electoral votes. mitt romney absolutely has to have those to win the white house. and then you have the state of pennsylvania. now, pennsylvania has potential for being a place that mitt romney could get around the state of ohio which has been difficult for him. he's made a last-minute play in the state. barack obama's lead, if he can hold it, would be consistent with what democrats have done since 1988 which is they carried that state every time. that's why the obama campaign has had a high level of confidence that they would hold it and foreclose the various roots that mitt romney would have to getting 270 electoral votes. of course new hampshire is another swing state. this is among the nine that barack obama carried in 2008.
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>> walk us through some of the shadings here of an election desk making a call. because pennsylvania is so important, why say that it's too early and yet also say that the president has the lead? >> because you get raw vote coming in that gives you an indication of how the state is going. you have exit polls which give you an indication of how the state is going. the people in our decision desk who are very expert at this, very experienced at this, they require a very high level of confidence by matching the exit polls to what they see in key precincts and the actual vote before they're willing to say we won't get a surprise say a huge vote in the western part, more conservative part of pennsylvania for mitt romney overcoming the lead that president obama would develop in philadelphia and counties around philadelphia. they're going to be absolutely certain at an almost 100% confidence level before they'll call any of those states even if a candidate stakes out an early
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lead. >> thanks very much. we'll come back to you soon. joining us from romney headquarters in boston is chairman and president of a company. your thoughts on what we know so far. 82 electoral votes for governor romney versus 64 for president obama. what's the mood there at romney headquarters? >> the mood is very good up here. it's very upbeat. there's a great sense of enthusiasm and energy in the room. so far so good. it's obviously going to be a close race, but i still believe that the governor is going to win with at least 300 electoral votes. i think for a sitting president to come into the election without 50% is a tough hurdle for him. the governor has run one hell of a campaign the last six weeks. so we're optimistic.
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i have learned a long time ago not to count chickens before they hatch but i feel strongly that we've had a good candidate, he's run a wonderful race. we've had a lot of support from a lot of people. and as i said, i'm guard ledly optimistic. i rather have opposition than the other side right now. >> what state are you focused on mostly? we have florida having closed but too close to call. pennsylvania too early to call. some of these hotly contested states we still don't know. new hampshire, too close to call. >> look, to me the key state right now is pennsylvania. if we tighten pennsylvania up, that gives us a good shot at taking ohio. what i'm saying is if we make a real, real tight race in pennsylvania, it spills over into ohio. on the other hand, wisconsin is in play.
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tommy thompson as of 5:00 i understand was running ahead. he could have coattails and this could be very helpful for us. >> jim cramer is with us on the set. he wants to ask you a question. >> ken, i'm trying to figure -- it's jim cramer. how are you, ken? >> hi, jimmy. jimmy, thanks for your kind words about bucknell. it means a lot to me. >> just a good man, sir. you're a good man. pennsylvania -- >> very kind. >> pennsylvania and ohio. both states doing better this time. employment is good in pennsylvania. employment is great in ohio. how does that really cut? if you're doing well, do you just not say, you know what, the president is fine. i'm doing okay. >> a lot of people aren't doing okay, jimmy. we talk about the unemployment numbers. those numbers represent a lot of people out of work and then let's be honest. when you saw you stop looking for a job so you're no longer
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unemployed, that doesn't make you less unemployed. i would add four or five points to the unemployment number. but the thing is, remember, two weeks ago pennsylvania was gone. it wasn't even a competition. look at it tonight. look at the crowd that the governor got in morrisville on sunday night. pennsylvania is in play. particularly in the western part of the state. that spills over into ohio. >> why do you think it spills into ohio? why do you think if you capture pennsylvania that spills over into ohio. how do you get there? >> because of the infinity. coal miners live in ohio and live in pennsylvania. bear in mind, don't just count the coal miners, count the economy that depends on coal mining. the stores, the restaurants, the hospitals. this area of america is in desperate need of help so if you tap into the coal miners, it's a
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whole region you tap into. so for example southern ohio is proving to be very strong. i understand today that cincinnati, the lines were unbelievable. all of southern ohio. the suburbs of cleveland, very strong. these are areas that break for the republicans. maybe i'm smoking dope or maybe i'm a cockeyed optimist, but let's be honest. the race is a lot closer than people would have thought a week ago. >> sure. >> ken, last question here. i wonder, pennsylvania was the governor's last stop. the last stop before going to boston was in pittsburgh. would it have been your choice to make that final run into pennsylvania or would have you rather saved today to fortify an ohio or fortify a florida? >> no. go look at the numbers. on the map, go look at the number of places that romney was in ohio. we've been in ohio for months. we've only focused on
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pennsylvania in the last two weeks. that's only because it came in play. look, i'm telling you right now, my opinion we win. and it's not going to be close. i think the -- the turnout is enormous. they're talking about a turnout as much as 60% when typically we get 50%. >> that is one -- >> something is going on. something is going on in america tonight. americans aren't happy. americans are worried. americans know that there's tough times ahead and you need strong, vigorous and honest leadership and i think this is what romney has run a fabulous campaign for at least this last six weeks. >> all right. ken, great to have your insight. >> by the way, maria, he's a wonderful human being and wonderful family. i hope we get him tonight. >> ken, thank you so much. we'll be watching. enjoy the romney headquarters in
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boston. >> want to get to scott cohn in ohio with breaking news. scott? scott, can you hear me? >> reporter: i'm sorry. it's a little bit loud here with the students. let me give you a sense of what's going on here as we said we're reporting from ohio state university. there's a polling place here at the student union. when the polls closed at 7:30 eastern time, university officials tell us there was still a line of about 500 students out the door. a two-hour wait to vote. if they were in line when the polls closed, they will be allowed to vote. you are seeing some results come in from ohio, some returns that are posting on the screen in the neighborhood of 59-40 or so for president obama. as we reported, a lot of those numbers are absentee votes, early votes. they were expected to break for the president. that's going to change. that's going to close up somewhat and as ken was saying
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and as democrats will tell you as well, this is a game of turnout in ohio. turnout has been strong. a lot of questions about the youth vote and whether they would be enthusiastic. i can tell you from at least this antidote from this polling place, there's a lot of enthusiasm here and a lot of ways as enthusiastic as they were four years ago. it's one polling place but as we said, two-hour wait to vote. they are still standing in line outside. >> that's going to be a larger and larger story as we get into the night. to one of the key battleground states where the polls are closed. mary thompson is live in the sunshine state tonight. >> reporter: we're keeping the pulse here at the bloodhound pub. polls closed in the western part of the state in the panhandle so now it becomes a waiting game to see who wins the biggest prize among the swing states. now, voting lines today were very long up to six hours and some predict record voter
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turnout this year. of course in 2008, it was florida's record turnout that helped to propel president obama into the white house with a victory here. this time around the polls are favoring governor romney. with their state struggling with aftershocks of the collapse of the housing bubble and the unemployment rate above the national average of 8.7%, floridians we spoke with told us this time they are voting with their wallet. what does that mean? it's a split. we talked to people who say they want change and mitt romney is a change with a plan they endorse and others say there are signs that say the economy is getting better and as a result they are sticking with president obama. now, critical to a win here in florida for the two candidates, a strong 50 and over turnout for mr. romney would help him. that's a group that votes for mr. romney. a strong turnout from the under 50 crowd for president obama. they favor him. along with the fact that we're waiting to see whether that 18
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to 29-year-old vote turns out. they helped to propel president obama to victory here in the sunshine state in 2008. lastly, the question is who captures the independents. right now they lean to romney. keep in mind here in florida if the margin of victory is less than a half percent, there's an automatic recount. we could be here late. back to you guys. >> mary, thanks very much. mary thompson live tonight in florida and again florida so far too close to call. once we have a definitive answer, we'll bring it to you. jim cramer back with us. also on the phone with us right now is congressman ron paul of texas. and former republican presidential candidate. good to have you on the program. thanks for joining us. >> very close night as we expected. so far we're talking 82 electoral votes for governor romney versus 64 for president obama. once we know the winner the work begins. who is better at handling the biggest issue that we face over the near term? the fiscal cliff? >> i think it's even steven.
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neither candidate has offered to cut anything. i think spending is a problem. i think the way we budget our money is a problem. this baseline budgeting is just horrible and they don't talk about that. they talk about the programs they want to keep. i think it would be even. i wouldn't expect a whole lot of difference. there will be a little benefit with romney on maybe getting taxes cut. and maybe less war with obama. but neither one is assured it. we heard promises so often over the years of the dramatic difference and this is a crucial election. that has been burnt out on that over many decades because we have elections and policies continue exactly the same way. government gets bigger. debt gets bigger and nobody talks about the problem. >> representative paul, jim cramer. nice to talk to you again. one of the things we share is the western civilizations are in trouble and they are printing a lot of dollars in this case.
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gold has been right. gold had a very big rally today. is that indicative that obama is going to win? >> you know what? usually lately, you know, gold goes up for various reasons. on short-term sometimes it goes up on bad news. they think, well, if the economy is really bad and bernanke is going to really, really give us another huge qe, that's going to injure gold. it's prerverse. i don't know if people thought the person that would get elected would hurt the economy and therefore would print more money. the short swings don't make much sense. i sort of look at gold the way i looked over the decades. when i looked at it was $35 an ounce. >> dating yourself, congressman. >> the depreciation of dollar has continued as i anticipated. >> i wonder if you think there's some line of gold at 1,700,
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below 1,700, that connotes how people are thinking of the future of the fed. >> if you think romney is going to win, you actually want to make a bet against gold. i don't like to make bets against gold because it's gone up in inflation and in times when the economy is strong and when the economy is weak. if you get rid of bernanke immediately, you mean business about your currency. if you mean business about your currency, you don't want as much gold. >> would you make a bet if romney would win toward stocks? you want to buy stocks if in fact governor romney takes this? >> i think that there's a perception that if we had a president who was just pointblank pro-business and wanted to take the phone call. i have the guy from chevron on the phone. if you had someone who takes a call which president obama is not perceived as a guy who takes that call, i think people feel more comfortable. >> congressman, thanks for your time. busy night for you. thanks so much.
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welcome back to our special coverage. hundreds of races in the house and senate tonight. >> there's tight races in the senate in early returns. pretty much going as we expected. we do have handful of newly projected winners in the senate races so far. nbc news declared that bill nelson is projected winner in the state of florida. nbc news also declaring angus king the projected winner in the state of maine. he's someone that we'll want to
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watch because he's an independent who hasn't said who he's going to vote with democrats or republicans when he gets to the senate. also, ben cardin, projected winner in the state of maryland. also thomas carper, the projected winner in the state of delaware. bob corker is projected winner in the state of tennessee. sheldon whitehouse in rhode island. back to you guys. >> all right. thanks a lot. that florida race for senate a key one to watch as we continue to wait for some presidential projections regarding that state. in the meantime, joining us now, former democratic pennsylvania governor ed rendell and former republican senator judd gregg. governor rendell, nbc news called pennsylvania too early to call but the president has the lead. anything that you hear out of your former state? >> the enthusiasm gap does not exist in pennsylvania. governor romney is turning out
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high turnouts in the red counties but in the president's base the turnout is off the charts. it may surpass 2008 turnout and that means in philadelphia, for example, the president carried by 478,000 votes in '08. he may beat that total and there aren't enough votes in the rest of the state to counteract that. >> senator, what are your thoughts on what we have learned so far and in particular looking at the house and senate races going on right now. how would you look at the balance of power and what that means in terms of compromise? >> it looks like the house will stay republican. the senate also looks like it will probably stay democratic if we were to have a close race and lose for example indiana and missouri, two seats we probably should have won. now indiana is not over yet. it's a close race. you can't make up that type of a step backwards. i suspect that it will be very difficult for us to take the senate at this time.
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there are still things that could happen. it sounds to me like it's a challenge. >> governor rendell what about that in terms of work beginning once we know who is going to be the leader of the free world, the fiscal cliff, the economy in the year ahead, how do you see this playing out in terms of how quickly they could actually get their arms around decisions around the fiscal cliff? >> whoever wins the presidency has to move almost immediately with strong leadership to get people, caucus leaders and some of the key opinion makers in the senate and house together to try to hammer out a deal to fix the debt and get rid of the deficit. we can do it. it means everyone will have to compromise and give a little. the key to that is presidential leadership by whoever the president-elect is either president obama or governor romney. if they exercise that leadership, we believe and judd and i are co-chair of a group called campaign to fix the debt, we believe that there are enough patriotic republicans and
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democrats to reach a compromise and get this thing done. >> senator -- >> i agree absolutely to that. >> i'm just curious, senator, if the governor wins tonight how much leeway do you think house republicans will give them and does having paul ryan as liaison to the house change things? >> of course it does. i think if the governor wins or if the president is re-elected, they both will understand that in their term of office the one predictable catastrophic event that's going to occur is the fiscal meltdown as a result of our accumulation of death and there will be an attack on the dollar and it will become a very dramatic and depressing economic eve event. whoever is the next president will have to step up to this issue. i think mitt romney would do it in a more aggressive way and effective way but the simple fact is they're going to have to do it and it will have to be bipartisan. you can't address these big issues like medicare, medicaid,
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social security and tax reform unless you do it in a bipartisan way. that's why we have joined together with large group of people including a lot of folks working in the senate and the house to try to reach a process to get to an agreement. >> we'll leave it there. senator, governor, good to have you on the program. thanks for weighing in. we want to bring you the latest from ohio, florida, and pennsylvania. of course which we have been watching. too close to call in ohio as well as you can see there. florida, too close to call. and onto pennsylvania where we are watching a hotly contested situation too early to call. stay with cnbc. we'll be right back. when you take a closer look... the best schools in the world... see they all have something very interesting in common.
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welcome back to cnbc election night coverage, "your money your vote." i'm maria bartiromo along with carl quintanilla. nbc news is projecting mitt romney the winner of arkansas with six electoral votes. >> some headlines of this hour. romney leads obama in electoral votes but the battleground states of north carolina, ohio, virginia, florida, and new hampshire are all too close to call. virginia predicting voting will continue for another half an hour. hotly contested pennsylvania coming in as too early to call. some senate seats going the way expected but many key races people are watching too close or too early to call notably maine
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goes to independent angus king. still to come in less than 30 minutes, polls closing in the batt tleground states of colora and wisconsin. >> let's get to john harwood for reaction here. what a night. >> no surprises so far. we're still waiting for all of the big dominos to fall. we don't know about virginia. we don't know about florida. we don't know about north carolina. >> pennsylvania. >> we don't know about pennsylvania. although as carl indicated earlier, we can say that president obama is leading in pennsylvania. he just hasn't closed the deal. >> i hear it's really close in virginia. sources are telling me that numbers coming in and i know we can't, these are raw numbers. not analyzed numbers and so forth. really close. in fact, one source told me they are already talking about a tie in virginia that could go on forever the way the comparative numbers are coming in. it's a big surprise. >> there's no question about it. that state is extremely close. both campaigns headed that way. president obama -- each side believed that they had a hair's breath of a lead.
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the good thing for president obama is that he doesn't need to win. mitt romney needs to win. >> has to win. >> has to win florida. has to win north carolina. has to win virginia and then go get ohio. >> there's no path without virginia for mitt romney. no path. >> there's so much at stake for the economy this election. jobs number one issue here. steve liesman, do you believe that this has been what's dictating these wins or losses across the country? >> it's what's dictating a close race. i think what's out there is the economy is clearly the number one issue. has been the number one issue. my good friend, larry, disagrees with me on this score. i don't think either side closed the deal on how to create jobs. when i look at the polls, i see them looking close. when i look at polling on the economy, i see romney ahead. i see "the wall street journal" poll that most people think the economy is moving in the right direction. we had polling data we reported from cnbc. the unemployed split 48-48. if there was ever a natural
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constituency for mitt romney, it would be the unemployed. they split 48-48. >> a lot of unemployed disproportionate unemployment rate among african-americans and hispanics -- >> i checked for that in our data. i looked at only white unemployed. they actually skew more toward obama than they do toward romney. when i get rid of the racial issue that you bring up, i still get the same problem that mitt romney did not go out there and convince the public he could create jobs. >> that may or may not be. we'll know later. there's a second factor. the whole issue of government dependency more than half of the households in this country get benefits from the government and obama aimed directly at that constituency and he talked to them directly and it was an us versus them. it was a we versus them. i think there's a shift in american politics going on. i don't happen to like that shift. whatever i think, there's a
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shift in american politics going on. instead of what can you do for your country under kennedy it's what can your country do for you and that play as role in this election. >> have you ever seen this country as divided as it has been? >> definitely not. >> civil war. >> we've been through some interesting times. i remember the civil war. those were tough. we want to bring in -- >> which side were you on, carl? which side were you on? >> so nice to have you in the greater new york area. welcome. good to have you. also glen hutchens joins us as well tonight. i'm curious in your view, rick. we talk about why your economic prism does not lead you to what some might argue, steve, right, natural follows on who you would vote for. >> to me it seems a bit counterintuitive. i agree with larry. whether it was the debates or lack of media attention, i don't think we dug for gold on economic information on either side to the depths that would
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have addressed this more directly. i also agree with john harwood that up until now there's been no surprises. even down to wisconsin, florida, virginia, there's a lot of the night left and i think it's kind of on that questionable path and i'm sticking to the notion that i still think we're going to know by 10:30. >> we want to get to amy. the balance of power almost as important in terms of leadership of this country. amy ji >> nbc news is making projection in the hard fought connecticut senate race. chris murphy is the projected winner over linda mcmahon. linda spent a lot of her own personal money. she has run twice for the senate. chris murphy is the projected winner from nbc news in connecticut. >> i can ask but that. she spent upwards of $100 million of her own money to make this happen again. >> that's a tough state for republicans right now. >> can i ask you a question, one
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of the things that romney supporters said all along is there is perhaps this uncounted groundswell of support for mitt romney that the polls were missing. is there any indication of that at this time? >> we haven't seen it yet. we don't have outcome in those battleground states. that's what will tell the tale. their argument is that the superior enthusiasm among their voters for change caused the pollsters to underestimate the turnout by republicans and overestimate how many democrats will turn out. we had in 2008, 7% more democrats voted than republicans. in 2004, it was dead even. we'll see whether it comes out in the middle and what that means for those battleground states. >> we want to break in. we want to bring in governor bob mcdonnell right now. glen, we know you're with us. we'll get to you. we want your take as well. governor bob mcdonnell. thank you for joining us. republican from virginia. the governors association
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president. >> it's been extraordinary in virginia. it could hit 75% or even 80% in some of the areas. that's good. that means both of the ground games work well. a lot of people interested in the outcome of this election. about $150 million spent on tv advertising. but it's in both areas. both republican and democrat leaning areas. we expected going into this virtually a dead heat. i thought the ground game would be better on our side. it means mitt romney would win by a couple. we still have people voting now because they were standing in line at 7:00 when the polls closed and we're going to allow them to vote. it's going to be a while before we know in virginia. >> let me just ask you. relative to your victory back in 2009, what did mitt romney's numbers look like right now? is he running behind you and if he is, how much? >> he is but it was a sea change. the president won by seven and i won by 18 the next year, larry.
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that's in a 45% voter turnout cycle. this is 70, 75, 80. it's hard to compare apples to apples. he was even going into it in a state that obama won by seven and we thought we had the momentum and the ground game and the enthusiasm going into it, larry. i'm still expecting a close romney victory here tonight. >> we have too close to call and we're wondering what it feels like on the ground. >> there's been immense enthusiasm here for the last month. starting with that first debate. the tremendous 72-hour effort with hundreds of thousands of door knocks and phone calls. all of the antidotal evidence was very positive. some of the polling data showed that the most likely voters were given romney about a two-point additional bump because of the turnout. it's all about turnout now. the feeling has been good. the best thing i think that happened is six months ago it was about beating obama. the last month or two it's about
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electing mitt romney because people believe in his ideas about jobs and spending and debt and leadership and protecting the military. we felt good going into it. >> governor, how important was hurricane sandy to this whole story? romney had tremendous momentum after all three debates, okay. then comes hurricane sandy. the romney campaign is basically suspended for about five days. you've got president obama looking presidential and getting a bear hug with governor christie of new jersey. how much do you think that hurt the romney operation? >> larry, it froze the race in place for five or six days as you pointed out. the governor canceled several events in virginia as did the president. right thing to do. it did stem that tide of momentum i think a little bit in virginia. and certainly gave the president the chance to dominate a few news cycles to do what they
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needed to do and fema did a good job. even though most of the efforts state and local governments, president was out there doing the right thing. partisanship goes out the window during natural disasters. it hurt governor romney because he had five days he couldn't do anything. hopefully that won't hurt him in virginia. i still think we win by a couple. >> thank you so much, governor. >> governor, a lot of republicans are annoyed with chris christie for how he reacted to president obama. are you one of them? >> chris is a great governor and good friend. he did what he thought was best for his state. when you've got people that are dead and you need relief, you're going to get it from state, local and federal help. i think he appreciated the president's help through fema. we sent a bunch of relief workers from virginia. i think he was just doing his job to take care of his citizens. >> we'll see who ends up paying
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the bill, the federal government or the state. thank you so much, governor bob mcdonnell for joining us. to glen hutchens quick. i know you signed onto the fix the debt coalition. you're very concerned about the debt situation. who is better at dealing with the debt of this country? >> it's a good question, maria. one thing i want to say you were talking about hurricane sandy and christie and obama. i think to see governor christie and barack obama working together to solve a huge problem like the results of the hurricane gives me a lot of courage that we can work together on the nation's problems across the aisle like that. i hope it doesn't take an economic hurricane to get there. >> you know, glen, voters are motivated by different things. there's nothing like weather or natural disaster to get their attention. do you think an issue as complex as the fiscal cliff can ever motivate people the way this has, the way sandy has? >> i hope so.
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i think maybe hurricane sandy could remind us of what 2008 was like when we lose control of the economy and allow events to ride man. the fiscal cliff is facing us. we need to solve it. it's the most important thing that government can do. you were talking earlier about creating jobs and what candidate is best for creating jobs. remember that businesses and not government create jobs and what government does is create circumstances under which business can create jobs. the most important set of problems facing job creators today is uncertainty coming from the fiscal cliff. my personal view as a supporter of obama is he's more likely to be the person able to deal with that because he's put the entitlement reforms on the table that are necessary to get that done. we need entitlement reform and tax increases. mitt romney, who i've known for a long period of time and have huge personal respect and affection for has a set of tax policies out there that are unrealistic.
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so that's one of the reasons i support obama. i do think whoever becomes the next president is going to have to deal with that as the very first thing before dealing with any other issues that face us. >> i think it's well to say that this is billed as a national election but it's really an election that's zip code by zip code and county by county. getting to rick's point, we never had a national discussion about jobs. this election has not created a national discussion about the deficit. that's going to come later when we elect a leader. because of the way the election is structured, it's obama going to ohio. what was it, 52 times? romney in virginia 30 times and the extent to which we ever talk nationally about jobs and the deficit is like three times. >> that's what's going on state by state tonight. they are voting with their local environment. thank you so much. we're waiting on results out of florida, ohio and virginia. nbc news projecting florida too close to call. 29 electoral votes. we see the importance of florida
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welcome to the world leader in derivatives. welcome to superderivatives. >> welcome back to cnbc special coverage. whoever becomes president faces a huge task of avoiding the fiscal cliff. let's talk solutions. joining us right now is austan
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goolsbee. he is at obama headquarters in chicago. david walker joining us, founder of comeback america initiative. good to see you. thanks for joining us. david, give us your sense of business getting to the work of the fiscal cliff once we know who takes this election. >> it has to be priority one for whoever wins tonight. we'll need extraordinary presidential leadership. we haven't had it in a number of years. we need to avoid the fiscal cliff between now and the end of the year and address the much bigger challenge which is avoiding the fiscal abyss. next year through a grand bargain. >> barring a surprise or a few surprises in the near future, we may have a house still run by the republicans, a senate still run by the dems. does that make negotiations over the next 55 days easier or harder? >> obviously harder. it makes it -- it will be tough. first of all, i saw you got rick over there.
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i had a special pass i was going to have rick santelli as my guest here at the obama after party. you flew him out to new jersey. >> that would bring the room to -- i would pay money to see that. >> the fact is with the -- you saw john boehner this week announce that he didn't care. they asked him if barack obama won the election, would that be a mandate to reach a grand bargain? you saw him announce publicly he didn't care who won the election and that they would no way, no how consider any new tax revenues. that's got to be pretty -- that's got to be pretty discouraging for any of us that are hoping they reach a deal for the grand bargain or the fiscal cliff. >> the president argues that the fever is going to break. the fever is going to break. those are his words. is that going to happen? >> we're going to have to do a brand bargain. the question is are we going to do it before we have a debt crisis or will we do it in the face of a debt crisis? we're going to have to have spending reductions and additional revenues.
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the american people understand that. the math doesn't work otherwise. let's get real. >> just to be fair, you just mentioned what john boehner said. a couple weeks ago a white house official came out and said the president is determined and adamant that he will veto any legislation that has any of the highest earners seeing those tax cuts extended. you've got the same adamant position on the side of the president that you do of john boehner. just to be fair. >> it's not to be fair. my point is the person who runs for president, the whole point that what we have been geared up for for the last two years in this election is this election will have some consequence. somebody is going to win. that gives somebody a mandate. one side says they want to cut taxes at the top. the other side says let rates go back to what they were in the '90s. there's nothing wrong with that. you saw romney's people saying on day one they'll repeal obama care because if they win,
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elections have consequences. that's fine. >> thank you so much. we got to wrap it there. a lot going on. just a few minutes left until we get michigan and wisconsin. some of the big states in the middle of the country. >> and too close to call, florida, ohio, pennsylvania. we'll be right back with more live coverage.
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courtney reagan is tracking the social media throughout the night. >> as polls begin to close, obama has the clear lead on social media front. on twitter, more than 11 million people tweeted and in terms of sentiment, mentions are 66% positive compared to republican presidential nominee mitt romney's 56%. on google, barack obama has been leading searches all day over romney and we're hearing a lot of buzz about long lines around the country. governor o'malley says if you are in line by 8:00, you can vote. even the president reminding voters the same thing. back to you. >> thanks very much. there were long lines but long lines for you when you voted today. >> it's been a difficult time in the northeast. polls are closing in wisconsin, new york, arizona and a host of other states. >> we're tracking them for you. stay with us. back in a moment.
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